This editorial by José Blanco originally appeared in the October 7, 2025 edition of La Jornada, Mexico’s premier left wing daily newspaper. The views expressed in this article are the author’s own and do not necessarily reflect those of the Mexico Solidarity Project.
More than nine years ago, International Monetary Fund economists Jonathan D. Ostry, Prakash Loungani, and Davide Furceri (JPD, hereafter) published the article “Neoliberalism: Oversold?” (Finance & Development, June 2016). The article has perhaps received little attention in academic and economic circles, although it is of great importance, especially for critics of this movement. Its merit lies in the acceptance of its existence; neoliberals used to deny its existence: it’s merely an insult, they said.
JPD admits that “since the 1980s, there has been a strong and widespread global trend toward neoliberalism.” Post-festum, with millions of victims and facing a final end, they reached three conclusions: “1) The benefits in terms of increased growth seem quite difficult to establish…; 2) The costs in terms of increased inequality are significant; and 3) The increase in inequality, in turn, harms the level and sustainability of growth.” Strange conclusions for economists who continued to defend neoliberalism.
JPD writes: “Chile began its push… a decade before 1982, and subsequent political changes brought it ever closer to the United States.” Unsurprisingly, they ignore history: Chile didn’t “begin its push”; it was the target of a brutal coup in 1973, led by Henry Kissinger, Richard Nixon’s national security adviser, after which the neoliberal agenda was imposed by Augusto Pinochet; Chile served as a guinea pig, and then the agenda was implemented throughout the rest of the world. Calling it a “strong and widespread global trend” sugarcoats the brutality of the agenda: deregulation of the world’s economies, forcing national markets to open to trade and capital, shrinking governments through austerity and privatization. With that policy, globalization was created. Its goal was to weaken the welfare state where it existed, cancel any commitment to full employment, and reduce taxes on the rich. It was necessary to “reorder” social reality and “reconstruct” our condition as individuals: each of us would become consumers and individual political entities above society.
The United States believed that globalization was the foundation of its domination ad aeternum. But the story continued, consisting of a downward spiral of its dominance. The first severe shock was the financial crisis of 2008. The empire began to stumble, and soon set about quickly overthrowing the neoliberal globalization that had once been its cherished goal: it remains committed to that goal today.
The Mexican neoliberals, who were born and lived hidden in the financial and treasury space, emerged exultantly under Carlos Salinas and his followers, and had abundant PRI and PAN successors. And they applied themselves thoroughly: they produced millions of impoverished victims, privatized public assets wherever they could, stole like wildfire, and left a cesspool that the Fourth Transformation has yet to clean up. The Mexican neoliberals have always remained identical. They are in the opposition, in most of the media, in many academic institutions, no longer hidden, very proud of who they are and firmly established in their vehement desire to return to their privileges. They will be left wanting.
Mexican neoliberals produced millions of impoverished victims, privatized public assets wherever they could, stole like wildfire, and left a cesspool that the Fourth Transformation has yet to clean up.
This time, from the very dump and among the millions of victims, a powerful social movement emerged that displaced the neoliberals from the center of state power, led by a man as visionary as few others. And the transformation began: the poor first. And the slogan produced more and more believers in the 4T. The people of Mexico elected Claudia and, moreover, today they elect the three branches of the Republic. It will take time to undo the ravages left by the neoliberal plague.
Nearly 5 million Mexicans work at all three levels of government, according to the latest National Survey of Occupation and Employment. Most of them were raised in the neoliberal space and surely possess an equally neoliberal mindset: complete individualism, each to his own, and “put me where I am.” It will take many years before it becomes possible for the majority to be educated by the social space of the 4T: don’t lie, don’t steal, don’t betray the people; for the good of all, the poor first.
Today’s capitalism is neoliberal. Humanity will never know anything different. Today, Western capitalism cannot grow faster because labor productivity has tended toward stagnation for half a century. Therefore, capitalists will continue to seek to increase profits at the expense of wages and produce inequality, as they have been doing. But it is possible to temper this trend with a balance of political forces favorable to the people. In Mexico, the Fourth Transformation (4T) is leading this process. The people make it possible.
Neoliberalism & the Fourth Transformation
October 11, 2025
Capitalists will continue to seek to increase profits at the expense of wages and produce inequality, but it is possible to temper this trend with a balance of political forces favorable to the people.
9th Continental Meeting of Solidarity with Cuba Opens in Mexico City
October 11, 2025October 11, 2025
More than 250 delegates from 23 countries attended the opening ceremony, where they expressed their support for the Cuban Revolution and solidarity with Palestine.
Sheinbaum Coordinates Action to Address Rain Emergency
October 11, 2025October 11, 2025
5,400 personnel, and state and civil protection protocols were activated to assist affected populations across Mexico.
The post Neoliberalism & the Fourth Transformation appeared first on Mexico Solidarity Media.
From Mexico Solidarity Media via this RSS feed
You must log in or # to comment.